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| Version 6 | Version 7 |
|---|---|
| Financial reform: Will the plans work? | Financial reform: Will the plans work? |
| (9 minutes later) | |
| BBC Radio 4's Money Box Saturday, 11 July 2009 at 1204 BST On Radio 4 and Online | BBC Radio 4's Money Box Saturday, 11 July 2009 at 1204 BST On Radio 4 and Online |
| The government has unveiled its plans for reforming financial services and much of it will not happen this side of an election - now less than a year away. | The government has unveiled its plans for reforming financial services and much of it will not happen this side of an election - now less than a year away. |
| But buried in its White Paper are a number of changes designed specifically to help consumers. | But buried in its White Paper are a number of changes designed specifically to help consumers. |
| They include the colour coding of products, a national money advice service and changes to the compensation scheme when banks go bust. | They include the colour coding of products, a national money advice service and changes to the compensation scheme when banks go bust. |
| What will they mean and will they work? | What will they mean and will they work? |
| We discuss the detail with Anthony Elliot of the charity Fair Banking and Angela Knight of the British Bankers' Association. | We discuss the detail with Anthony Elliot of the charity Fair Banking and Angela Knight of the British Bankers' Association. |
| Further information: UK set to reform bank regulation Firms to reveal complaints data Key issues: Financial regulation External links and helplines | Further information: UK set to reform bank regulation Firms to reveal complaints data Key issues: Financial regulation External links and helplines |
| Share scams | Share scams |
| Investors are under continual threat from so-called "boiler rooms" | Investors are under continual threat from so-called "boiler rooms" |
| As investors struggle to get a good return in the current economic climate, there are fears that more people will fall victim to criminal gangs masquerading as stock brokers. | As investors struggle to get a good return in the current economic climate, there are fears that more people will fall victim to criminal gangs masquerading as stock brokers. |
| It has been estimated that every year as many as 30,000 people are losing hundreds of millions of pounds between them. | It has been estimated that every year as many as 30,000 people are losing hundreds of millions of pounds between them. |
| Bob Howard reports on what is being done to fight back. | Bob Howard reports on what is being done to fight back. |
| Further information: Banks take action on share scams Q&A: Boiler room scams External links and helplines | Further information: Banks take action on share scams Q&A: Boiler room scams External links and helplines |
| Mortgage arrears | Mortgage arrears |
| Increasing numbers of people are falling behind with their payments | Increasing numbers of people are falling behind with their payments |
| More than 260,000 people were at least three months behind with their mortgage payments in May, according to the Council of Mortgage Lenders. | More than 260,000 people were at least three months behind with their mortgage payments in May, according to the Council of Mortgage Lenders. |
| It has warned that the total number behind with payments could rise to more than 400,000 by the end of the year. | It has warned that the total number behind with payments could rise to more than 400,000 by the end of the year. |
| There is concern that some lenders might see such people as a useful source of profit, charging them while they struggle with their debt. | There is concern that some lenders might see such people as a useful source of profit, charging them while they struggle with their debt. |
| Consumer organisation Which? wants the regulator to make public the names of the worst offenders. | Consumer organisation Which? wants the regulator to make public the names of the worst offenders. |
| We discuss the issues with Dominic Lindley of Which? and Sue Anderson of the Council of Mortgage Lenders. | We discuss the issues with Dominic Lindley of Which? and Sue Anderson of the Council of Mortgage Lenders. |
| Have Your Say: Mortgage arrears | Have Your Say: Mortgage arrears |
| Further information: Arrears fees must 'reflect costs' External links and helplines | Further information: Arrears fees must 'reflect costs' External links and helplines |
| First Plus loans | First Plus loans |
| First Plus no longer offers new loans or advances to existing customers | First Plus no longer offers new loans or advances to existing customers |
| Some customers of secured lender First Plus say the company has acted unfairly in not lowering rates when base rates have fallen so dramatically. | Some customers of secured lender First Plus say the company has acted unfairly in not lowering rates when base rates have fallen so dramatically. |
| And a compliance expert says its contract terms give too much power to the company and are therefore unenforceable. | And a compliance expert says its contract terms give too much power to the company and are therefore unenforceable. |
| The former market leader, which closed to new business last year, says its terms are fair and that it is doing nothing wrong. | The former market leader, which closed to new business last year, says its terms are fair and that it is doing nothing wrong. |
| Samantha Washington investigates. | Samantha Washington investigates. |
| Further information: External links and helplines | Further information: External links and helplines |
| Nationwide offers 125% mortgage | Nationwide offers 125% mortgage |
| Nationwide building society has defended itself this week after it emerged it was offering some existing customers a mortgage of up to 125% of the value of their home. | Nationwide building society has defended itself this week after it emerged it was offering some existing customers a mortgage of up to 125% of the value of their home. |
| We speak to Sue Anderson of the Council of Mortgage Lenders about the development. Nationwide offers 125% mortgage | We speak to Sue Anderson of the Council of Mortgage Lenders about the development. Nationwide offers 125% mortgage |
| OTHER NEWS | |
| Sale-and-rent-back | |
| Birmingham County Court has allowed a couple from Shropshire to stay in their property, even though the firm that they sold it to, has stopped paying the mortgage. | |
| He ruled they could stay there for life, by either taking out a new mortgage and becoming the owners, or through renting it from the mortgage lender who had repossessed it. | |
| High court rules against Foxtons | |
| Estate agency Foxtons has been told by the High Court that some of the terms and conditions it uses in letting agreements with landlords are "unfair." | |
| The most significant is continuing to demand a "renewal" commission from a landlord, if a tenant stayed on past the end of the initial tenancy period. | |
| That was even if the firm had played no part in persuading the tenant to stay on and was no longer managing the property. | |
| High Court rules against Foxtons | |
| BBC Radio 4's Money Box was broadcast on Saturday, 11 July at 1204 BST. | BBC Radio 4's Money Box was broadcast on Saturday, 11 July at 1204 BST. |
| The programme will be repeated on Sunday, 12 July at 2102 BST. | The programme will be repeated on Sunday, 12 July at 2102 BST. |